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Amgen To Buy Mustafa Nevzat For $700 Million

Biotechnology firm Amgen (AMGN) will buy a 95.6% stake in Mustafa Nevzat Pharmaceuticals for $700 million, in a move to expand its presence in Turkey and the surrounding region. The all-cash transaction has been approved by both the boards, the two companies said in a joint statement Wednesday. MN, which supplies pharmaceuticals to the hospital sector and is a major supplier of injectable medicines in Turkey, had revenue of approximately $200 million in 2011, the statement said. Amgen's focus on Turkey and the surrounding region, which are large, fast-growing, priority markets for Amgen, is a part of its international expansion strategy. Amgen established an affiliate in Turkey in 2010 and currently markets two products, with plans to develop its pipeline of clinical candidates for Turkey and other markets around the world. Order free Annual Report for Amgen, Inc. Visit http://djnewswires.ar.wilink.com/?link=AMGN or call 1-888-301-0513

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
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04/22/201419:35:35Correction to Amgen Earnings Story
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03/30/201408:44:49New Drugs to Lower Cholesterol Show Promise: Studies
03/26/201416:30:44Merck, Glaxo Hold Off on Help With Affordable Care Act Copays
03/17/201410:14:16Amgen Says Cholesterol Drug Study Meets Primary Endpoint
03/07/201417:42:46FDA Advises of Adverse Effects from New Cholesterol Drugs
02/05/201408:18:12Lazard Ltd. Swings to Fourth-Quarter Profit
02/05/201408:10:08Merck 4Q Profit Falls 14%; Confirms Collaborations
02/05/201407:47:05Merck Profit Falls 14% on Sales Drop; Confirms Collaborations...
01/28/201417:20:06Amgen Profit Rises 30% on Broad Sales Growth
01/26/201408:16:39MARKET SNAPSHOT: Stock Investors Trash Market Darlings, Face...

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